Risk Archives - ACL

What makes a good key risk indicator?

A risk indicator can be any metric used to identify your risk exposure over time. But how do you know you’ve selected the right ones for your financial institution? Key risk indicators (KRIs) facilitate the monitoring and control of risk. They link back to your...

Three myths about continuous control monitoring

Nonie Dalton Product Manager, Public Sector, ACL When you hear the term “continuous control monitoring” (CCM), do you find yourself thinking any of the following? My ERP system has built-in automated controls, so I don’t need CCM because I’m already protected. It...

Move beyond a compartmentalized “silo” view of risks

John Verver, CPA CA, CISA, CMC Advisor to ACL      ERM is evolving fast, in response to a more dynamic risk landscape and the compelling opportunities (and threats) afforded by the digital transformation. Organizations that embrace it are winning...

How technology is transforming supply chain risk management

John Verver, CPA CA, CISA, CMC Advisor to ACL      Supply chain risk management (SCRM) is incredibly complex and supply chain failures can have enormous impacts, not just on an organization’s finances, but also its reputation. Adding to the...

How to know if risk management and control measures are effective

John Verver, CPA CA, CISA, CMC Advisor to ACL      Being able to review a reliable assessment of the risk and control universe is a great starting point, but your enterprise resource planning (ERP) system simply isn’t designed to help you here. The...

Assessing low, medium, and high risk

Controls exist to address risks, minimize surprises and pitfalls, and help an organization achieve its objectives. Many risks happen every day, but are inconsequential. Others are a big deal. With so many controls and so many areas of an organization, it’s only...

15 critical functional capabilities of ERM software

A well-established enterprise risk management (ERM) program can be crucial to helping an organization achieve its strategic objectives. But, how can organizations implement an ERM program that drives corporate performance? For most organizations it is an evolving...

How to “do ERM” and actually achieve results

John Verver, CPA CA, CISA, CMC Advisor to ACL      Alignment around what enterprise risk management (ERM) should be It seems that every study, article and report on risk management now comes to the same conclusions: that a smart approach to ERM...

3 reasons to shift risk management efforts to the front line

Risk management in the financial services industry is evolving. Traditionally, risk was managed by the second line of defense: risk management and compliance functions. But the trend now with banks is to move these responsibilities to the front line, where it all...

How a city finance team built in continuous control monitoring

Providing assurance that internal controls are working shouldn’t wait for a costly annual audit. Finding the right balance between process controls and efficiency is key. Continuous control monitoring can create a stronger control environment, but getting started can...

How do you spell success? ERM

Enterprise risk management (ERM) can be the “silver bullet” that takes an organization from good to great—enabling a scientific approach to systematically dealing with the obstacles to success and driving performance excellence. The most successful, high-performing...

Make an immediate impact in the finance department with ACL

Keith Bailey Director of Finance, ACL I have recently been appointed Finance Director at ACL. What a great opportunity, particularly since we’re a data-driven organization. Most new finance directors would face an immediate challenge of navigating a spider’s web of...

The ultimate trade-off: risk control versus productivity

No system of internal controls is perfect—and they don’t have to be. Controls are designed and implemented to reduce the risks of things going wrong that may damage the organization in some way. But controls come at a cost. If a system were to be so highly controlled...